Cardiovascular Information System Market to Surpass US$ 1,312.6 Million by 2026

The Global Cardiovascular Information System Market, by Component (Software, and Services), by Deployment (Cloud-Based and On-Premise), by Application (Cardiac and Peripheral Catheterization, Hemodynamics Monitoring, Electrophysiology, Echocardiography, and Others), By End User (Hospitals, Diagnostic Laboratories, Ambulatory Surgical Centers, and Clinics) was valued at US$ 668.3 million in 2017 and is projected to exhibit a CAGR of 8.5% over the forecast period (2018 - 2026) as highlighted in a new report published by Coherent Market Insights.

The cardiovascular information systems provide a single interface and exclude the requirement of various subsystem connections, which in turn helps to simplify enterprise-wide access to cardiology department data by eliminating the need to re-enter patient data, and save time by eliminating the need to search for patient data in various IT systems or physical locations. Many healthcare providers are trying to modernize their cardiovascular departments with cardiovascular information system (CVIS), which will help in optimizing the cardiovascular service line. One of the products of GE Healthcare - Centricity Cardiology Enterprise is an integrated imaging and workflow solution that provides a unified view of cardiology and radiology images with customizable workflows. In 2015, this product received North American Cardiology Informatics Market Leadership Award Recipient. Thus, growing popularity of these devices among various healthcare providers is expected to drive growth of cardiovascular information system market over the forecast period.

Vendors are engaged in developing advanced software with more powerful database to improve clinical and financial performance of cardiology department. For instance, on March, 2015, Philips launched IntelliSpace Cardiovascular at the American College of Cardiology Conference. This system is a web-enabled image and information management system with a single integrated workspace that produces a holistic view of the patient’s care and allows cardiologists to collaborate and share information more readily with other team members across various care settings to make timely and informed decisions to improve patient management.

Key takeaways of the cardiovascular information system market:

The global cardiovascular information system market is expected to expand at a CAGR of 8.5% during the forecast period (2018–2026), owing to technological advancements and large product base of life science microscopes

On the basis of components, service segment is expected to show maximum traction during the forecast period, owing to the rising need to integrate CVIS with many other technologies such as CPACS/EMR and other cardiology modules, which require proper knowledge and IT specialist to understand the working and other needs of the technology

Cloud-based deployment hold major market share, owing to improved interoperability, reduction in IT burden in hospitals, and easy remote access to data and images

On the basis of end user, hospitals hold largest market share, as hospitals have high purchasing power due to which adoption rate for CVIS solutions becomes high